Wages have seemingly been on a tear since 1965 having risen from $2.5 per hour in February of 1964 to $20.5 per hour in May of 2014. A couple charts will show what I mean.
Average Hourly Earnings of Production and NonSupervisory Private Employees
click on any chart for sharper image
Average Hourly Earnings of All Private Employees
Data for all private employees only goes back to March of 2006.
On Monday, a BLS Real Earnings report showed:
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 1st, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 31st, 2014 | John Ransom